NorthCrest Asset Manangement LLC Purchases 899 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

NorthCrest Asset Manangement LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 52,057 shares of the medical research company’s stock after acquiring an additional 899 shares during the quarter. Thermo Fisher Scientific makes up 1.0% of NorthCrest Asset Manangement LLC’s investment portfolio, making the stock its 21st largest position. NorthCrest Asset Manangement LLC’s holdings in Thermo Fisher Scientific were worth $32,201,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Signature Resources Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. New Millennium Group LLC bought a new position in Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC raised its position in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the period. Headlands Technologies LLC bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth about $32,000. Finally, Bank & Trust Co acquired a new stake in Thermo Fisher Scientific during the second quarter worth approximately $33,000. 89.23% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Marc N. Casper sold 6,300 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $602.09, for a total value of $3,793,167.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $74,548,375.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $76,420,473.36. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TMO. Sanford C. Bernstein reduced their price target on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research note on Thursday. Bank of America boosted their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. TD Cowen upped their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday. Wells Fargo & Company lowered their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, Evercore ISI reduced their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

TMO traded down $3.00 during trading on Friday, reaching $554.38. 1,090,373 shares of the company were exchanged, compared to its average volume of 1,467,407. The company’s 50-day moving average is $605.12 and its two-hundred day moving average is $584.04. Thermo Fisher Scientific Inc. has a 12-month low of $420.21 and a 12-month high of $627.88. The company has a market cap of $211.77 billion, a price-to-earnings ratio of 34.39, a P/E/G ratio of 3.75 and a beta of 0.77. The company has a quick ratio of 1.37, a current ratio of 1.72 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.69 EPS. Research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.